6,012 Shares in Principal Financial Group, Inc. $PFG Purchased by Atlas Wealth LLC

Atlas Wealth LLC acquired a new stake in shares of Principal Financial Group, Inc. (NASDAQ:PFG) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 6,012 shares of the company’s stock, valued at approximately $542,000.

Several other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Principal Financial Group in the 4th quarter worth about $273,276,000. AQR Capital Management LLC raised its stake in Principal Financial Group by 112.8% during the fourth quarter. AQR Capital Management LLC now owns 2,348,233 shares of the company’s stock valued at $207,138,000 after buying an additional 1,244,668 shares during the last quarter. Bank of America Corp DE raised its stake in Principal Financial Group by 9.6% during the second quarter. Bank of America Corp DE now owns 12,370,852 shares of the company’s stock valued at $982,617,000 after buying an additional 1,083,991 shares during the last quarter. UBS Group AG boosted its holdings in Principal Financial Group by 62.3% in the third quarter. UBS Group AG now owns 2,023,880 shares of the company’s stock worth $167,800,000 after acquiring an additional 776,997 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Principal Financial Group by 23.2% in the third quarter. Invesco Ltd. now owns 3,376,797 shares of the company’s stock worth $279,970,000 after acquiring an additional 636,334 shares during the last quarter. Institutional investors own 75.08% of the company’s stock.

Insiders Place Their Bets

In other Principal Financial Group news, insider Wee Yee Cheong sold 9,183 shares of the firm’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $101.26, for a total transaction of $929,870.58. Following the transaction, the insider owned 77,188 shares of the company’s stock, valued at approximately $7,816,056.88. This trade represents a 10.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel George Djurasovic sold 2,571 shares of Principal Financial Group stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $100.83, for a total transaction of $259,233.93. Following the completion of the transaction, the general counsel directly owned 21,906 shares in the company, valued at approximately $2,208,781.98. The trade was a 10.50% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 28,317 shares of company stock worth $2,884,902 in the last three months. Corporate insiders own 1.13% of the company’s stock.

Principal Financial Group Stock Up 0.7%

NASDAQ PFG opened at $113.95 on Friday. Principal Financial Group, Inc. has a one year low of $75.00 and a one year high of $114.90. The company has a market capitalization of $24.61 billion, a P/E ratio of 16.30, a P/E/G ratio of 1.09 and a beta of 0.88. The stock has a 50 day moving average price of $107.26 and a 200-day moving average price of $97.65. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.27 and a current ratio of 0.27.

Principal Financial Group (NASDAQ:PFG) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $2.07 EPS for the quarter, topping the consensus estimate of $2.01 by $0.06. The company had revenue of $3.53 billion during the quarter, compared to analyst estimates of $4.11 billion. Principal Financial Group had a net margin of 10.10% and a return on equity of 16.25%. During the same period in the previous year, the firm earned $1.81 earnings per share. As a group, equities analysts predict that Principal Financial Group, Inc. will post 9.4 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Monday, June 1st were paid a dividend of $0.82 per share. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.80. This represents a $3.28 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Monday, June 1st. Principal Financial Group’s payout ratio is presently 46.92%.

Analyst Ratings Changes

PFG has been the subject of a number of analyst reports. Evercore set a $108.00 price objective on shares of Principal Financial Group in a research note on Monday, April 27th. Keefe, Bruyette & Woods upped their target price on shares of Principal Financial Group from $102.00 to $112.00 and gave the stock a “market perform” rating in a research note on Monday, July 13th. Atlantic Securities set a $94.00 price target on shares of Principal Financial Group in a report on Wednesday. Raymond James Financial lowered shares of Principal Financial Group from a “strong-buy” rating to an “outperform” rating and boosted their price objective for the stock from $99.00 to $111.00 in a report on Tuesday, May 19th. Finally, UBS Group lifted their target price on Principal Financial Group from $92.00 to $94.00 and gave the stock a “neutral” rating in a report on Thursday, April 9th. Three investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Principal Financial Group currently has an average rating of “Hold” and a consensus target price of $104.83.

Principal Financial Group Profile

Principal Financial Group (NASDAQ: PFG) is a global financial services company headquartered in Des Moines, Iowa, that provides a range of retirement, investment and insurance solutions to individuals, employers and institutional clients. The firm’s business is organized around retirement services, asset management, and insurance products designed to help clients plan, invest for, and protect income over the long term.

Principal’s product and service offerings include retirement plan recordkeeping and administration for employer-sponsored plans, individual and group retirement annuities, life and disability insurance, employee benefits solutions, and wealth management services.